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How your business can earn even more Qantas Points with Live eftpos black

GUIDE: Earning Points

DIFFICULTY: Easy

TIME TO READ: 4
minutes

POSTED: June 16, 2017

UPDATED: June 19, 2017

LOYALTY PROGRAMS: Qantas Frequent Flyer

Over the past few years, there has been a proliferation of mobile payment systems that allow businesses to accept EFTPOS transactions without the restriction of having the payment device physically connected to a cash register.

These mobile payment providers have also been a blessing for small businesses that have not had the transaction volume to acquire payment devices from large financial institutions.

Live eftpos is one such provider, having entered the market in 2011. They have partnered with Qantas Business Rewards to offer businesses the ability to earn Qantas Points for each transaction processed through their device, with points being earned by the merchant for customer spend on Visa, MasterCard & Diners.

Disclaimer: Live eftpos are a Point Hacks commercial partner. This content is sponsored by Live eftpos.

Earning Qantas Points with Live eftpos black

Live eftpos black is currently offering 20,000 bonus Qantas Points to new merchants, subject to a minimum threshold of $45,000 being transacted through the device within the first 60 days. Merchants will also earn 1 Qantas Point per $1 transacted.

There is no cap on the number of points that can be earned, meaning that if your business transacts $2 million dollars per month, your business gets 2 million Qantas Points.

Features of Live eftpos black

The Live Eftpos black device can support multiple carriers on the one SIM card, providing greater flexibility for your business. It also comes with a dedicated Relationship Manager for each customer after receipt of their device, who will provide ongoing assistance to the customer.

Payments transacted through Live eftpos black are deposited into your business bank account every business day, and will be received within 1-2 business days if the payment is taken before 5:45pm AEST, otherwise will take within 2-3 business days.

The product differs from other payment systems such as Square, in that it does not require an iOS device or a reader and offers Qantas Points to the merchant.

Pricing for Live eftpos black

To differentiate from financial institutions, who generally adopt an interchange fee plus fixed mark-up model, Live eftpos black relies on a blended pricing structure, dubbed ‘Simple Pricing’. The cost to rent a payment device is fixed at $49 per month.

In addition, a flat 2.5% + GST merchant processing fee is also applied for Visa or MasterCard transactions or 2% + GST for debit cards, for which 1 Qantas Point per $1 is awarded.

Live eftpos black’s pricing is high when compared outright to other EFTPOS providers – however the Live eftpos black device is the only product on the market that offers Qantas Points to merchants.

The price for Live eftpos black does not include any annual, set-up or exit fees and there are no lock-in contracts – so to compare pricing you’ll need to consider the average rate your existing – or potential – EFTPOS supplier may charge.

For example – say an existing supplier offers you an Eftpos facility at an average rate of 1.2% and no monthly fee. The difference between that and Live eftpos black is $49 for the monthly fee, 1.3% in interchange fees and the ability to earn Qantas Points. If you are comfortable with those costs then this could be an effective way to accrue points, bearing in mind the merchant fees would also be a deductible business expense.

Finally, that’s not considering any of the other services or benefits that either Live eftpos or whoever you are comparing to may offer.

Which businesses should consider Live eftpos black?

The product works best for businesses wanting to offer their clients in-person EFTPOS facilities with Visa / MasterCard acceptance, and business owners or managers who want to benefit from accruing Qantas Points and redeeming them for high value redemptions.

This could be especially true for businesses that transact larger amounts or volumes, such as dentists, accountants or lawyers, given that earning is not subject to capping.

Summing Up

The ability for businesses to earn Qantas Points through EFTPOS transactions could be a welcome addition for business owners or managers who know how to get value from the points earned.

Given that Live eftpos are the first to offer a product like this in Australia, and that the earning potential is uncapped, it’s a unique way to earn more Qantas Points. Live eftpos black also provides those small businesses unable to acquire a payment device through their bank an opportunity to do so.

However, this product will not appeal to all businesses. Those businesses looking to offer American Express payments to their clients, that don’t see the value in Qantas Points, or receive payment terminals at discounted rates from their financial institution would likely see little value in considering Live eftpos black.

Given businesses need to compare their own existing EFTPOS facilities or other offers in the market to this option, and that EFTPOS fees often vary wildly in terms of price and services on offer based on the nature and location of the business, it’s not possible to say that Live eftpos black is a contender for everyone – so make your own comparisons!

Disclaimer: Live eftpos are a Point Hacks commercial partner. This content is sponsored by Live eftpos.

* A business must be a Qantas Business Rewards Member to earn Qantas Points for business. A one-off join fee of $89.50 including GST normally applies, however this will be waived for Live eftpos black customers. Membership and Qantas Points are subject to the Qantas Business Rewards Terms and Conditions. Qantas Points for business are offered under the Live eftpos black Terms and Conditions. Any claims in relation to Qantas Points under this offer must be made directly to Live eftpos by calling 1300 780 788 or emailing [email protected] Qantas Points will be credited to the Members’ Business Rewards account within 60 days of receiving your End of Month Merchant Statement from Live eftpos black. Members will earn 1 Qantas Point for every $1 spent (including GST) transacted via the Live eftpos black Merchant facility.

^ New customers will earn 20,000 Qantas Points when they transact a minimum of $45,000 within 60 days after the account has been approved.

How your business can earn even more Qantas Points with Live eftpos black was last modified: June 19th, 2017 by Keith

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Who wrote this
guide?

Keith started Point Hacks in 2011 to help people earn more points and use them better by sharing frequent flyer tips, deals and reviews.
You’ll find Keith writing and managing Point Hacks full time in Sydney’s Northern Beaches - unless he's travelling.

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Comments

Exactly. Roughly $2.5 million transacted yearly through my Eftpos facilities currently at 0.89% . So in dollars this is going to be a significant increase, which in turn is still going to be fully deductible business expense, for at least two or three personsl return first class emirates/qantas trips trips to anywhere in the world that otherwise wouldn’t be deductible if not work related.

Although, it must be noted that there could possibly be an FBT issue when the reward is taken. However, the argument can be made that the reason Qantas FF points are being accrued is for commercial convenience and it is a legitimate business reason, therefore no FBT nor income ta issues would arise (if this was accepted).

Again then the ultimate question is, would you rather the money in your pocket or being able to access cheaper premium reward seats.

This is an interesting proposition, let’s say we use your 1.3c difference between the bank issued device and the Live eftpos black – at the current company tax rate you’re effectively buying Qantas points at 0.091c. This looks very cheap considering other programs purchasing rates.

One of the big questions a business owner will need to ask themselves is would they rather that in their pocket, or be ‘buying’ cheap points to utilise on reward travel.

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